Arrowstreet Capital Limited Partnership Trims Stake in AT&T Inc. (NYSE:T)

Arrowstreet Capital Limited Partnership decreased its holdings in shares of AT&T Inc. (NYSE:T) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,481,621 shares of the technology company’s stock after selling 24,356,903 shares during the period. AT&T comprises about 1.1% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 8th largest holding. Arrowstreet Capital Limited Partnership owned approximately 0.82% of AT&T worth $1,331,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter worth approximately $25,000. Marshall Investment Management LLC bought a new stake in AT&T in the fourth quarter valued at $28,000. Tradewinds Capital Management LLC lifted its stake in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the last quarter. YANKCOM Partnership acquired a new position in shares of AT&T during the fourth quarter valued at $30,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the fourth quarter worth about $34,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE T opened at $28.20 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market capitalization of $202.40 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a 50 day simple moving average of $25.70 and a 200-day simple moving average of $23.53. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $28.51.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.94%. AT&T’s payout ratio is presently 74.50%.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised their price target on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.79.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.